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HAMP Hampson Ind.

0.225
0.00 (0.00%)
19 Apr 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Hampson Ind. LSE:HAMP London Ordinary Share GB00B0P8RT68 ORD 25P
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.00% 0.225 0.00 01:00:00
Bid Price Offer Price High Price Low Price Open Price
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
  -
Last Trade Time Trade Type Trade Size Trade Price Currency
- O 0 0.225 GBX

Hampson Ind. (HAMP) Latest News

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Date Time Title Posts
11/4/201310:05Hampson Industries plc2,720
07/2/201207:46Hampson - transformation, recovery, growth424
04/6/200910:25Hampson Ind. with Charts and News12
08/3/200709:51Hampson, transformed and in growth mode740
16/12/200407:14rightsized, refocused, recapitalised & recovering338

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Posted at 19/11/2012 18:17 by tullynessle
Hampson Industries PLC Cancellation of listing
Date : 19/11/2012 @ 16:59
Source : UK Regulatory (RNS & others)
Stock : Hampson Ind. (HAMP)

RNS Number : 4949R

Hampson Industries PLC

19 November 2012

19 November 2012

Hampson Industries PLC

Hampson Industries PLC placed into administration

Cancellation of listing

The board of directors of Hampson Industries PLC (the "Company") refers to the announcement by the Company earlier today (in respect of the filing of the notice of intention to appoint administrators) and confirms that the Company has been placed into administration earlier this afternoon under the Insolvency Act 1986. Simon Ian Kirkhope and Chad Griffin of FTI Consulting LLP have been appointed as joint administrators of the Company.

The Company has applied to have the listing of its securities cancelled from the Official List of the UK Listing Authority (and for the admission to trading of its securities to be cancelled from the main market of London Stock Exchange plc) with effect from 8:00 a.m. on 21 November 2012, pursuant to paragraph 5.2.12 of the Listing Rules.

The administration is not expected to result in there being any value remaining for the Company's shareholders.

Enquiries:

M:Communications

Anne-marie Wilkinson / Maria Souvorov +44(0) 20 7920 2330
FTI Consulting LLP

Nick Hasell +44(0) 20 7269 7291
Posted at 19/11/2012 14:41 by tullynessle
Date : 19/11/2012 @ 13:00
Source : UK Regulatory (RNS & others)
Stock : Hampson Ind. (HAMP)

Hampson Industries PLC Notice of intention to appoint administrators



Hampson Industries PLC Notice of intention to appoint administrators
Print
Alert
TIDMHAMP

RNS Number : 4605R

Hampson Industries PLC

19 November 2012

19 November 2012

Hampson Industries PLC

Notice of intention to appoint administrators

The board of directors (the "Board") of Hampson Industries PLC (the "Company") announces that the Board has filed a notice of intention to appoint Simon Ian Kirkhope and Chad Griffin of FTI Consulting LLP as joint administrators of the Company pursuant to the Insolvency Act 1986. The appointment is expected to become effective later today.

A further announcement will be made in due course.
Posted at 16/11/2012 21:28 by tullynessle
Description of "fixed charge receivership"

Extract 1 (Taken from Link 1)

"Hampson Industries PLC (the "Company" and, together with its subsidiaries, the "Group") announces that fixed charge receivers have been appointed over the shares held by Hampson Aerospace Services Limited in BHW (Components) Limited ("BHW")."


Link 1:



Date : 16/11/2012 @ 16:00
Source : UK Regulatory (RNS & others)
Stock : Hampson Ind. (HAMP)

Hampson Industries PLC Receivership sale

RNS follows...

==============================

Extract 2 (Taken from Link 2)

"Fixed charge receiverships

W h at a r e t h e y ?

A fixed charge receiver may be appointed by a lender with a mortgage, charge or other security over real property or other specified assets. The appointment is quick and fairly inexpensive.

The receiver will generally have broad powers to realise assets and, in respect of real property, collect rent. Unlike many other insolvency appointments, a fixed charge receiver need not be a licensed insolvency practitioner and specialist surveyors are commonly appointed. Many will be members of and comply with the voluntary code of NARA (the Association of Property and Fixed
Charge Receivers)."


Link 2 - Description of "Fixed charge receiverships" and User Guide
Posted at 16/11/2012 16:39 by tullynessle
Date : 16/11/2012 @ 16:00
Source : UK Regulatory (RNS & others)
Stock : Hampson Ind. (HAMP)

Hampson Industries PLC Receivership sale


Receivership sale of the entire issued share capital of BHW (Components) Limited held by Hampson Aerospace Services Limited

Hampson Industries PLC (the "Company" and, together with its subsidiaries, the "Group") announces that fixed charge receivers have been appointed over the shares held by Hampson Aerospace Services Limited in BHW (Components) Limited ("BHW"). Pursuant to an agreement dated 16 November 2012, the receivers have effected the sale of the entire issued share capital of BHW to LNB UK Limited for a consideration of GBP2,365,000 in cash, GBP2,215,000 of which has been paid, and GBP150,000 of which is to be paid within 30 days of completion. The consideration is payable by the purchaser to the receivers, on behalf of Hampson Aerospace Services Limited and will be applied (after the deduction of the costs of sale) in repaying part of the outstanding debt owed by the Group to the lenders under the Group's finance facilities.

BHW provides integrated airframe solutions for aircraft component manufacture and assembly to OEM and tier-one suppliers to the aerospace industry (including the manufacture and supply of engine nacelles, fuselage structures, empennage, aircraft skins and other aerospace components). As at 31 March 2011, the value of the gross assets of BHW were GBP15.16 million and BHW recorded a net loss for the period to 31 March 2011 of GBP3.91 million.

With the support of the Group's lenders, the Board of Directors (the "Board") of the Company continue to actively pursue the objective of achieving a sale of the Group's US operations (and of the Group's interests in India).

The conclusion of the sale of the Group's US and Indian operations (and the realisation of any remaining assets) are not expected to result in there being any value remaining for the Company's shareholders.

Further announcements will be made as appropriate.
Posted at 09/11/2012 14:57 by minsky
Bit of a delayed reaction. AEA were a similar company to Hampson - invested in the US, high debts (to our friendly state owned bank, Lloyds), high pension obligations, share price crash. Yesterday they went into administration. Shares suspended then de-listed i.e. worthless. I hope this fate does not befall Hampson.

I hope we dont get RNSs like these:
Posted at 31/10/2012 14:35 by tullynessle
Good news for HondaJet and its Suppliers, including Hampson



HondaJet Starts Production
ASSEMBLY, INDUSTRY NEWS, MATERIALS
Company president says an assembly line is in place, and the fuselage and wing have already been produced.

OCTOBER 31, 2012

The president of Honda Aircraft Co. announces that HondaJet has started production. During a press conference at the National Business Aviation Association (NBAA) annual meeting and convention in Orlando, FL, the company also highlighted key testing milestones that have been successfully accomplished with the HondaJet moving closer to certification and delivery.

"An assembly line for HondaJet production is in place, major aircraft components including the fuselage and wing have been produced, and we have started assembly of the first customer aircraft," says Michimasa Fujino, Honda Aircraft president and CEO. "Commencing production is the most important milestone in the HondaJet program to date, with only the future Federal Aviation Administration Type Certification and first customer delivery ranking greater in significance."

Article continues......


=============================



June 23, 2011 04:02 ET
Hampson Aerospace Wins Contract to Supply HondaJet Ailerons

This Contract Increases Hampson's Involvement in the HondaJet Program

PARIS--(Marketwire - Jun 23, 2011) - PARIS AIR SHOW, Hall 2b, Stand F155 -- Hampson Aerospace (Hampson), the international aerospace group, announced today that its Hampson Aerospace Aerostructures & Composites Division has won a contract to supply HondaJet Ailerons.

Hampson is pleased to announce the award of the HondaJet Ailerons contract to its aerostructures company, which operates out of Wigan in the UK.

"This builds upon and strengthens the relationship between Hampson Aerospace and the Honda Aircraft Company," commented Norman Jordan, CEO Hampson Aerospace. "We already manufacture and supply the Empennage assembly to HondaJet manufacturing in Greensboro, North Carolina. We are very proud to increase our involvement in this world class aircraft."

News Release continues......
Posted at 12/9/2012 16:42 by tullynessle
BAE RNS released at 16:35 today regarding a possible combination of BAE and EADS
businesses.



BAE SYSTEMS PLC Stmnt re Share Price Movement
Date : 12/09/2012 @ 16:32
Source : UK Regulatory (RNS & others)
Stock : Bae Sys. (BA.)
Quote : 363.6 34.9 (10.62%) @ 16:35

RESPONSE TO SHARE PRICE MOVEMENT

Further to the recent movement in BAE Systems' share price, BAE Systems plc (BAE Systems) and EADS N.V. (EADS) confirm that they are in discussions regarding a possible combination of their businesses. This potential combination would be implemented through the creation of a dual listed company structure, under which both companies would operate as one group by means of equalisation and other agreements but would be separately listed on their existing exchanges.

The discussions between the parties envisage that BAE Systems shareholders would own 40% and EADS shareholders 60% respectively of the enlarged group. It is contemplated that there would be a unified board and management structure with identical boards and executive committees at each of BAE Systems and EADS.

RNS continues...
Posted at 03/8/2012 08:33 by tullynessle
Interesting paragraph at the Extract below.

It would be interesting to determine if there had been any conversation between Hampson and the Reporter prior to the article being published.

Extract:

"Payment for that contract was originally expected within a year of its September 2010 signing, but owing to "issues identified during the testing and customer approval process" will not be fully realised until as late as March 2013."




Hampson crisis 'won't leave 787 short of production tooling'

By: DAN THISDELL LONDON 16 hours ago Source:

London trading of shares in Hampson was suspended earlier this week when the debt-burdened supplier of composite assembly tools to Airbus, Boeing, Bombardier, Gulfstream, Lockheed Martin and other airframers declared the end of attempts to sell the company and that it was unable to file its accounts for its year to end-March.

However, though its share price stood at less than a penny - down from an all-time high in excess of 200p ($3.13) in January 2008 - Hampson remains a going concern and insists it is still on track to fulfil a $53 million contract to supply Boeing with lightweight mandrel tools for carbonfibre lay-up for a "major commercial aerospace programme". This is likely to be the -9 variant of the 787.

Payment for that contract was originally expected within a year of its September 2010 signing, but owing to "issues identified during the testing and customer approval process" will not be fully realised until as late as March 2013.

Hampson complained in 2010-11 that profitability was being hit by "a consistent pattern of changes in customer scheduling requirements which resulted in higher subcontract and overtime costs being incurred".

Debt servicing and goodwill impairments have wiped out trading profits. The company lost £31 million before taxes in its year to end-March 2011 and the same again in its half-year to end-September 2011.

Trouble began in 2008 with a $253 million acquisition of Michigan-based tooling makers Odyssey and Global Tooling. The move looked like a savvy bid to satisfy the growing demand for composite airframe tools until the global financial crisis and various aircraft programme delays left Hampson out on a financial limb.

Lenders have been helpful, but banks have not been willing to refinance the debt, which stands at some £55 million net, exacerbated by short-term borrowing to support the delayed Boeing tooling contract.

Hampson put itself up for sale in February but last week said there was no offer being discussed, though there were preliminary talks with a "third party" about the sale of the US operations. Shareholders will be left with nothing, according to Hampson
Posted at 07/6/2012 15:32 by rees4
6 June 2012
Hampson Industries PLC
Update and Notice of General Meeting
Hampson Industries PLC ("Hampson" or the "Company", and, together with its subsidiaries, the
"Group"), the international aerospace group, is sending to its shareholders a notice of general
meeting to be held pursuant to section 656 of the Companies Act 2006 (the "General Meeting").
Copies of the notice will be available on the Company's website: www.hampsongroup.com.
The Directors have concluded that the Company's net assets are now less than half of its called-up
share capital and, in such circumstances, the Directors are required under section 656 of the
Companies Act 2006 to convene a general meeting of the Company to consider whether any, and if
so what, steps should be taken to deal with the situation.
The General Meeting will be held at 30 Crown Place, London EC2A 4ES at 11 am on 27 June 2012.
As noted in the announcement made on 14 February 2012 and the Trading Update given on 10 April
2012, the Board is currently reviewing and assessing the strategic options available to the Group and,
as part of its review, is undertaking a formal sale process. Accordingly, the Board does not consider it
necessary for specific resolutions to be proposed at the General Meeting.
Shareholders should note however that, although the assessment of strategic options is ongoing, the
Board considers that, in light of:
 the level and terms of indicative offers received to date for the Company pursuant to the
formal sale process;
 the assessment of the Group's trading and operating liabilities (including the Company's
contingent or future liabilities, such as those relating to the fulfilment of the Company's
remaining obligations under the defined benefit pension scheme in the UK); and
 the level (and repayment terms) of the debt obligations owed by the Group to its secured
lenders;
it is becoming clear that there is a material risk that there will be little or no remaining value for
existing shareholders. Further announcements will be made as appropriate.
The Group will publish its results for the year ended 31 March 2012 by the end of July 2012.
Enquiries:
M:Communications
Ann-marie Wilkinson / Maria Souvorov +44 207 920 2330
Notes to editors:
Hampson's operations are structured into two business segments, serving the global commercial and
military aerospace markets from manufacturing facilities in the UK, North America and India.
Hampson is a world leader in the design and manufacture of close tolerance tooling and assembly
systems for large composite and metallic aero structures.
Hampson is listed on the main market of the London Stock Exchange (Symbol: HAMP). For more
information on Hampson: www.hampsongroup.com
A copy of this announcement will be available at www.hampsongroup.com
news release
Posted at 14/2/2012 20:21 by troc1958
Markets as we know are ruthless when news intimates serious problems in a company. But is this the real case with Hampson and has the market over reacted? I think so but no longer believe its going to the "recovery" share I expected it to be.

Obviously their negotiations on banking covenants are not going well so selling the company outright is a way of keeping the company trading without financial default.

If one reads the interim statement closely the Chairman intimates that by announcing the company is "for sale" the takeover code then allows that potential bidders "will not be required to be publicly identified". IMO this will allow more potential acquirers to "clandestinely" evaluate Hampsons operations without the fear of a bidding war which could drive all interested acquirers away.

For shareholders this may mean a lower purchase price but more likely to secure a deal which will hopefully be well above current price, than allow HAMP to go into administration.

However the markets seem to think otherwise and the near 50% drop in share price today indicates they think Hampson may not secure a buyer, default on it banking covenants and possibly go into administration and be sold on the cheap, regardless of the progress the company has made to turn around its operations. Valuing Hampson at mkt cap of £11 million (although it does have debts of £54m) is low. The cost of entering the "composite" market would be a lot more than the effective £65m price tag on Hampson.

Hampson seems to me to have make very good inroads into sorting out the problems with Odyssey which was one of the main reason for the groups fall from grace. Orders are up slightly and turnover improving quickly. They look like they were "turning the corner". Still a very high risk share but IMO worth the gamble at these prices. I will be watching the share price closely to see how it continues to react to the "for sale" news over the next month or so. A small top up maybe on the cards.
Hampson Ind. share price data is direct from the London Stock Exchange

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